AA Options History — October 2008

In October 2008, AA traded between $21.72 and $51.11. ATM implied volatility averaged 112.7%, placing in the 66.1% IV rank vs the trailing year. The 30-day expected move averaged 28.7%. IV traded below realized volatility by 5.5% (HV 20d: 118.2%). Max pain ranged from $30.04 to $78.10. Net GEX was positive for 17 of 23 trading days. Term structure was in contango for 0 of 23 days. Put/call ratio averaged 1.26.

Notable Days

  • 2008-10-14: Highest Volume — 65,247 contracts
  • 2008-10-06: Largest IV spike — 49.2% change
  • 2008-10-02: Highest IV Rank — 100.0%
  • 2008-10-10: Largest Expected Move — 35.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.73$21.72$51.11$51.11$27.63
Max Pain$50.15$30.04$78.10$78.10$30.04
ATM IV112.7%79.7%172.8%90.5%87.6%
Expected Move28.7%22.9%35.7%25.9%25.1%
HV 20d118.2%63.3%157.7%63.3%157.6%
HV 60d79.3%50.6%100.3%52.0%100.3%
IV Rank66.1%33.9%100.0%90.6%39.5%
IV Percentile97.2%91.7%100.0%99.6%91.7%
Term Structure-10.9%-28.5%-1.1%-24.0%-1.1%
VWIV99.7%79.2%125.3%90.8%91.9%
Skew 25d13.9%4.8%23.4%4.8%10.9%
Skew 10d23.6%2.7%37.5%2.7%26.8%
Call IV 25d94.7%75.6%121.4%89.1%88.9%
Put IV 25d108.6%85.9%136.3%93.8%99.8%
Bid-Ask Spread %6.252.4913.562.495.36
Gamma HHI0.100.070.180.110.18
Net GEX13.7K-1.1M436.2K-1.1M436.2K
Net DEX291.4M201.4M462.8M462.8M218.6M
Net VEX-664.7K-1.3M-384.7K-1.3M-573.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.260.219.290.370.49
Total Volume15,593.2614,05865,2479,5284,058
Total OI341,490.348269,308381,858357,930324,283

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-10-01$51.11$78.1090.5%25.9%63.3%90.6%90.8%4.8%-24.0%-1.1M462.8M-1.3M0.372.49N/AN/A6,9342,594235,559122,371
2008-10-02$46.57$78.10110.3%31.6%68.4%100.0%110.4%6.4%-28.5%-277.8K405.8M-1.3M0.665.32N/AN/A4,5662,991237,950120,127
2008-10-03$46.23$78.1097.2%27.9%68.4%83.2%96.3%11.2%-20.9%-333.9K426.9M-1.2M0.243.38N/AN/A6,1461,456240,714122,528
2008-10-06$43.52$60.08145.0%27.0%69.9%100.0%88.8%17.9%-14.1%-182.1K401.3M-1.1M0.8611.50N/AN/A5,7144,891245,081122,308
2008-10-07$40.15$60.08140.8%26.9%73.1%96.3%93.1%8.6%-13.2%-146.8K382.5M-960.7K4.378.33N/AN/A9,97543,593243,690121,046
2008-10-08$35.35$60.08121.1%27.2%80.3%78.9%95.3%16.3%-12.9%-70.9K353.0M-713.8K1.4713.56N/AN/A12,21117,910247,664118,811
2008-10-09$29.94$60.08135.8%31.9%91.5%91.8%104.8%17.6%-18.0%28.0K299.7M-614.1K1.049.87N/AN/A4,4474,632251,245119,698
2008-10-10$27.03$54.07172.8%35.7%89.3%100.0%117.9%16.5%-20.0%43.4K271.0M-560.6K0.768.70N/AN/A8,1806,176252,660119,806
2008-10-13$33.21$54.07115.1%25.0%126.2%59.0%90.8%15.2%-4.9%103.8K323.4M-614.8K0.486.47N/AN/A5,4762,614256,099120,030
2008-10-14$31.21$54.07115.9%26.4%126.4%59.6%91.8%14.2%-9.2%117.6K317.2M-476.8K9.297.29N/AN/A6,34258,905256,693119,599
2008-10-15$27.23$48.06145.1%29.5%131.3%80.3%103.6%10.1%-10.7%69.3K280.0M-439.3K1.176.61N/AN/A3,3163,891260,181119,929
2008-10-16$29.34$48.06102.9%29.5%135.6%50.4%104.3%16.0%-9.6%122.6K285.1M-479.4K0.715.45N/AN/A7,1165,027259,162117,720
2008-10-17$28.36$48.0696.6%27.7%132.8%45.9%96.9%12.5%-7.3%78.9K275.0M-511.0K0.759.35N/AN/A5,9794,502262,806119,052
2008-10-20$29.82$42.0580.3%23.0%136.1%34.3%79.2%13.7%-4.3%91.3K224.7M-490.2K2.724.39N/AN/A5,11413,896172,57396,735
2008-10-21$29.20$42.0579.7%22.9%136.2%33.9%80.8%9.4%-4.1%109.0K261.0M-419.1K0.544.58N/AN/A3,8412,091175,353109,803
2008-10-22$25.28$42.05104.8%30.0%140.4%51.7%102.6%23.4%-2.8%66.4K234.8M-384.7K0.796.63N/AN/A12,1859,610176,468111,149
2008-10-23$24.01$48.06102.3%29.3%140.3%49.9%104.0%16.0%-2.3%100.0K224.3M-457.0K0.723.62N/AN/A8,6646,238184,623117,986
2008-10-24$22.61$36.05123.8%35.5%140.3%65.2%125.3%14.9%-12.4%97.3K201.4M-505.2K0.434.32N/AN/A6,3882,724188,559118,804
2008-10-27$21.72$36.05117.0%33.5%139.1%60.3%121.3%14.6%-11.3%97.3K201.5M-413.6K0.222.90N/AN/A8,0851,783191,959119,799
2008-10-28$25.90$36.05108.5%31.1%156.0%54.3%105.9%21.4%-8.9%200.8K217.9M-513.2K0.354.48N/AN/A5,5991,939195,991119,589
2008-10-29$26.79$30.04106.0%30.4%157.7%52.5%100.9%14.2%-7.6%306.5K217.5M-562.1K0.334.64N/AN/A7,6702,563198,115119,978
2008-10-30$27.51$30.0492.5%26.5%157.3%42.9%95.8%13.6%-1.9%343.3K216.7M-601.7K0.214.55N/AN/A8,7631,850199,439120,543
2008-10-31$27.63$30.0487.6%25.1%157.6%39.5%91.9%10.9%-1.1%436.2K218.6M-573.0K0.495.36N/AN/A2,7201,338203,462120,821